Texas United Bancshares Inc. in La Grange has agreed to buy the $125 million-asset Northwest Bancshares of Roanoke, Tex.
The purchase would give the two-bank, $1.3 billion-asset buyer five more branches in the Forth Worth area; it said their high-profile locations were attractions.
Northwest Bank is to be merged into Texas United's GNB Financial Inc.
The deal, announced last Tuesday, is expected to close in the second quarter. The price, $31 million in cash and stock, is about 2.63 times book value.
Texas United has announced two other deals this year. In May it said it was buying the $221 million-asset Gateway Holding Co. Inc. of Dallas for $41 million; that deal is expected to close this quarter.
Last month it said it would buy the $44.7 million-asset Express Bank of Texas, which is based in Round Rock, for $9.4 million; the Express deal is to close early next year.
